5 Advantages Higher Rates Deliver To Fixed Annuities | A Huge life income increases in the last year

Fixed Annuity rates are at a level we have not seen since 2007 and seem to be increasing regularly. The increased rates will allow for better returns and allow the use of higher quality, more client friendly products.

-1: Much Higher Interest Rates (obviously)
Interest rates are at highs not seen in nearly 20 years. 2 – 10 year rates are 5% or higher with a 6% 10 year. Look for more 6% rates if the benchmarks keep increasing.

-2: Higher Rated Carriers Are Very Competitive
Now clients can use carriers in (A- / A+) rated category with rates nearly equal too, or better than the (B+ / B++) rated category carriers.

-3: Client Friendly Features Included
When rates were at historic lows, carriers had to get creative to help yield. Some carriers created "enhanced rate" MYGA products with zero features. No free withdrawals, waivers, repeating surrender charges, and even a surrender charge on lump sum death distributions. NO LONGER! Now clients can get all those features and the most competitive rates.

-4: FIA Simple crediting methods and higher CAPS (Fixed Indexed Annuity)
Higher rates equal higher caps on the traditional crediting methods. Annual reset, Annual Lock-in and the Pt 2 Pt Cap are now very competitive with some caps even guaranteed for the entire term at 10%+. If you thought a 6% was nice let us see how much higher they can get ending 2023.

-5: SPIA Lifetime Income (Single Premium Immediate Annuity)
Lifetime income rates are up HUGE!
Life and 10 Year certain for a male age 65 with $100,000 in
April 2022 was getting $562.76 monthly.
Oct. 2023 that income is $647.61 monthly. That is a 15% increase, an extra $1,018 annually, 1.02% of premium! A 70 year old was getting $648 in 2022!

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